Saudi Parts Center ordered to vacate Jeddah neighborhood, readies for relocation

27/02/2022 Argaam
Logo ofSaudi Parts Center Co.

Logo of Saudi Parts Center Co. 

 

Saudi Parts Center Co. (SPC) received a verbal notification on Feb. 24 from the Jeddah Municipality field authorities to vacate a neighborhood in Mada’in Al-Fahd 2, Jeddah, before March 5, the company said in a statement to Tadawul. 

 

Two of SPC’s branches are located in this neighborhood, and the company is working according to the contingency plan to find a new warehouse and branch for immediate relocation. 

 

The relocation to the new warehouse is expected to be complete before March 5, and the new branch will open within three months.  

 

SPC carries out its activities through its licensed outlets, after obtaining all necessary regulatory licenses. The company does not expect any material impact on revenues or expenses. 

 

Shares of Saudi Parts Center were listed and started trading on Nomu Parallel Market on Feb. 21, Argaam reported.

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